The price per barrel for oil this morning dropped more than one dollar and hovered near $76 on the New York Mercantile Exchange.
This decline came amid the U.S. Energy Information Administration having reported that crude stockpiles climbed 7.31 million barrels the week previous -- a figure compared with estimates of a 1.6 million barrel rise.
And finally, the Administration also says gasoline and distillate stocks rose, though not as much as had been projected.
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